The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Following comments from European Central Bank (ECB) board member Pierre Wunsch regarding inflation, the EUR/GBP pair began to gain positive momentum. Wunsch stated that temporary and minor deviations from the inflation target due to energy price fluctuations are acceptable. He also mentioned that discussing the December policy decision is premature, and further monetary easing is not immediately necessary. These remarks are considered a primary factor in supporting the EUR/GBP pair.
Additionally, the rise may be driven by technical buying near the 0.8300 level, which has provided solid support for spot prices since the end of September. However, the pair's growth potential remains limited due to expectations of more aggressive ECB rate cuts, confirmed by a drop in Eurozone consumer inflation below the 2% target for the first time since June 2021 and sluggish economic growth.
On the other hand, the British pound is supported by expectations that the Bank of England's rate cuts will proceed more gradually than in the Eurozone.
With no major economic data scheduled for release today, the pair's volatility and direction remain limited. Traders should await the release of preliminary Consumer Price Index data from Germany and the Eurozone on Wednesday and Thursday, respectively.
From a technical perspective, daily chart oscillators indicate downward momentum, so it is too early to anticipate a recovery in the EUR/GBP pair from its September lows.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।